PricewaterhouseCoopers announces $100m growth strategy for Africa
PricewaterhouseCoopers (PwC), a professional services firm, on Monday July 18, 2011 announced an ambitious growth strategy for the Africa region featuring a $100-million investment in people and infrastructure.
It also has a focus on building an integrated advisory business and plans to recruit 8,000 additional partners and staff over the next five years.
A statement received by the Ghana News Agency said Dennis Nally, Chairman of PwC International, while in Nairobi, Kenya, to announce the strategy and meet with clients, partners and staff said: “Africa is an important frontier for economic growth. We believe the regional economy could double by 2020 to nearly $3 trillion and we are getting a clear signal from our international clients that Africa is an increasingly important market for them.
“This confidence is supported by our African CEO survey which shows that 69% of CEOs in Africa are very confident of revenue growth over the next three years, compared to 51% of CEOs globally.”
Together with PwC’s Africa Central Territory Senior Partner, Philip Kinisu, Dennis Nally announced three new initiatives to support the firm’s growth plans.
These are investing more than $100 million in additional skills and business infrastructure in firms across Africa over the next three years; further integration of PwC firms in order to provide Advisory services across the continent through one Pan African entity and building world-class skills in Africa through recruitment, developing home grown talent and facilitating international mobility – across all the service lines.
Kinisu said: “PwC has been in the region for 65 years – we are confident about our future in Africa and prepared to invest to maintain our number one position. We also want to make sure we continue to provide value to our clients in Africa. Their needs are evolving as they look to transform their businesses in response to changing demographics, consumer tastes and competitor behaviour.”
Source: GNA